Share Transfers Agreed/Cooling off period

[JeMeSouviens]

If they're going to rent Tiny, why on earth would someone pay £5-7M for something worth less than 5-7p?

[YehButNoBut]

Another one bites the dust.

Mehdi Taouil will leave Hearts at the end of the season.

The Moroccan midfielder has been told he will not be given a contract for next season. Taouil joined Hearts from Kilmarnock in 2011 on what was announced as a three year deal.

However the 30-year-old will now leave Tynecastle after the club said his contract expires at the end of May. Taouil made 68 appearances at Hearts, scoring twice.

His four years at Kilmarnock yielded five goals from 107 run outs.

http://sport.stv.tv/football/clubs/hearts/226286-mehdi-taouil-leaves-hearts/?utm_source=dlvr.it&utm_medium=twitter

[Phil D. Rolls]

Are the ideas that they would be bought for £5-7m nonsense due to the shares currently being frozen?

Would Lith admins get much more than that if they broke the club up and sold it all off?

Given that all they are buying is the reputation and goodwill, 5-7 million is an outrageously high amount.

I'd like to know what the Zombie Yams will do about players and a ground. I suppose they'll just borrow more money. Because they have learned nothing, other than that they are untouchable.

The whole problem here is thar only one set of fans want them to die. With OLDCO everybody hated them. Despite their best efforts, most sets of fans have just treated Yam delusions as the uttering a if fantasists.

Basically, they will escape because they are a diddly club like everyone else. Otherwise they would have been terminated on Monday. Still, they will insist it is because they are special.

[PatHead]

Another one bites the dust.

Mehdi Taouil will leave Hearts at the end of the season.

The Moroccan midfielder has been told he will not be given a contract for next season. Taouil joined Hearts from Kilmarnock in 2011 on what was announced as a three year deal.

However the 30-year-old will now leave Tynecastle after the club said his contract expires at the end of May. Taouil made 68 appearances at Hearts, scoring twice.

His four years at Kilmarnock yielded five goals from 107 run outs.

http://sport.stv.tv/football/clubs/hearts/226286-mehdi-taouil-leaves-hearts/?utm_source=dlvr.it&utm_medium=twitter

How does a 3 year deal end after 2 years?

[matty_f]

Someone's going to pay up to £7m for an almost worthless entity (as they're not buying the PBS I assume, given they say it'll be rented for 3 years), then they'll have to spend to build a team, then build a 25k seater stadium (having bought the land too)?

Really?

[Platinum Scotty]

How does a 3 year deal end after 2 years?

Impressive maths there, clear to see why they dont feel they are in trouble.........they cannae count

[JeMeSouviens]

I'm not sure about the new stadium as that won't happen. But Hearts will have new owners soon, be in the SPL with no points deduction.

Liquidation or administration is just people on here wishful thinking.

If anyone can be arsed, have a trawl back through the old Hun threads. That was all wishful thinking too. :wink:

[GreenCastle]

Another one bites the dust.

Mehdi Taouil will leave Hearts at the end of the season.

The Moroccan midfielder has been told he will not be given a contract for next season. Taouil joined Hearts from Kilmarnock in 2011 on what was announced as a three year deal.

However the 30-year-old will now leave Tynecastle after the club said his contract expires at the end of May. Taouil made 68 appearances at Hearts, scoring twice.

His four years at Kilmarnock yielded five goals from 107 run outs.

http://sport.stv.tv/football/clubs/hearts/226286-mehdi-taouil-leaves-hearts/?utm_source=dlvr.it&utm_medium=twitter

Thought he was here another year ?

According to this site he was contracted to 2014 -

http://www.transfermarkt.co.uk/en/heart-of-midlothian-fc/kader/verein_43.html

The yams seem happy he's leaving...

I'm happy as although he hasn't fired on all cylinders since joining them - was a tricky player and liked to pass the ball and try get involved.

So far that's Grainger, Barr, Smith, Prychynenko and Zaliukas, Ngoo, Wilson, Novikovas all gone - 8 players

Would expect Webster to go soon also making it 9 in total.

[EdinMike]

How does a 3 year deal end after 2 years?

That's a very good point there Sherlock... More crazy under the table stuff happening down at the PBS !

[Sanger]

Just been looking through some of the comments from Hearts fans on the Scotsman (something I don't do often as it's full of complete loonies) anyway the general opinion of Hearts fans is that there is some White Knight about to rescue them by buying the club before some 30 day rule which means no penalty points next season and because of this they will start next season debt free and without any points deduction.

Are they really that deluded are just living in the land of make believe. :ostrich: :titanic:

Some of their comments below

The Source - For the hard of thinking that read these posts, let me explain a few things. Hearts will be bought by a group, not an individual. Hearts will be sold for c£5m, possibly up to as much as £7m, but no more than that. The purchase will take place within the 30 day period UBIG have to withdraw their insolvency application. (meaning no penalty points for Hearts). UBIG will liquidate after that time. Assuming the price is £5m (for easy maths), it means the creditors of Ubig will secure 20p in the £ for the debt currently being carried by UBIG/Ukio Bankas.

Under normal administration/liquidation, the figure would be around 5 to 10p in the £. This represents an excellent opportunity for UBIG's creditors to salvage some return on their debt. These discussions are already at an advanced stage, and, will be concluded within the next fortnight/three weeks. Hearts will then be debt free, and start next season in the SPL in the strongest position they have been in for over 30 years. There may be some negotiating over the terms of the sale of Tynecastle, but, worst case scenario is a lease/buy back arrangement spread over an extended period of time.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Milky Bar Kid - UKIO Bankas is bankrupt. UBIG is insolvent and its assets are frozen.

A formal offer for the Romanov-controlled 94% shares has been made to the Lithuanian administrators, Valnetas UAB. (including Julija Goncaruk's 15%)

Hearts FC will have new owners as soon as the legals have been formalised and a due diligence inspection of the management accounts has been carried out.

Hearts FC will continue to trade as a going concern, with NO debt.

Hearts FC will rent Tynecastle Stadium for at least the next three seasons until a new 25,000 capacity stadium is built in the west of the city.

Hearts will NOT enter into administration and will meet its HMRC debt in full. Hearts were respected citizens for 132 years before Romanov arrived.

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Look to the North, the Norwegians are coming over the hill.

They will take over the club, minus the debt which will be gone along with UBIG, they will purchase Tynie from UKIO and the Liths will out.

Simples, Hearts will start the season in the SPL, debt free and without any point deduction

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


Ukio Bankas are down £55 million because of Hearts and will shortly call in claims on Tynecastle and HMFC. The administrators are going to maximise the sale if those claims to recoup as much of the loss as possible given they have a £300 million black hole to fill from guaranteeing the depositors of Ukio Bankas. Shows how far off these loonies are!

[therealgavmac]

Their accounting reminds me of.......


"There are 3 types of people in the world, those that can count and those that can't" :greengrin

[PatHead]

Ukio Bankas are down £55 million because of Hearts and will shortly call in claims on Tynecastle and HMFC. The administrators are going to maximise the sale if those claims to recoup as much of the loss as possible given they have a £300 million black hole to fill from guaranteeing the depositors of Ukio Bankas. Shows how far off these loonies are!

Well if they got £5-7m for the brand without any stadium (or players over the age of 18 the way things are heading) the administrators have played a blinder.:cb

[Hank Schrader]

I'm not sure about the new stadium as that won't happen. But Hearts will have new owners soon, be in the SPL with no points deduction.

Liquidation or administration is just people on here wishful thinking.

Total and utter b*llsh*t. Sorry Steve but as much as you think liquidation or administration is wishful thinking by some on here, your own thoughts on the subject are as far removed from reality as the deranged warblings by the likes of "The Source" on the Scotsmans comments section.

[Jim44]

Just had a wee look back at previous SPL tables to see what points the teams finishing bottom had. Average was 28.(Lowest was 18, highest was 37.)

If they end up starting on -15 next season it's not just 15 points they need to make up, they need to catch the team sitting 2nd bottom (obviously) so they'll potentially need about 43 points just to draw level.

Assuming they'll be worse next season, this makes me happy.


If reconstruction doesn't take place till next season, they could decide, as they have previously, not to have promotion and relegation. The Jambos could get out of jail for very little cost. I hope of course that I'm wrong.

[JeMeSouviens]

If reconstruction doesn't take place till next season, they could decide, as they have previously, not to have promotion and relegation. The Jambos could get out of jail for very little cost. I hope of course that I'm wrong.

What reconstruction? 12-10 splitting to 8-8-8 was the only compromise in town and it's gone.

[Treadstone]

Total and utter b*llsh*t. Sorry Steve but as much as you think liquidation or administration is wishful thinking by some on here, your own thoughts on the subject are as far removed from reality as the deranged warblings by the likes of "The Source" on the Scotsmans comments section.

'The Source' is probably a Hibby throwing a line that he knows will hook a few. Fully expect this to be the chinese whisper of choice at the AGM.

[Part/Time Supporter]

How does a 3 year deal end after 2 years?

Might have been two years plus a club option.

[Big Sexy Dave]

Has Zaliukas got a new club yet? not sayin' we should sign him. Just interested.

[The Falcon]

They call it an extension in the accounts, but of the £25m that was due, £15m was fobbed off on a soon to be bankrupt bank, the interest rates were changed, new terms of repayment were agreed and the maturity date was changed - for all practical purposes it was a new loan. But either way we are agreed that UBIG was not in a position to legally make such a transaction.

I have a nagging doubt that somehow this has been carefully engineered to suit Hearts as the board left by the back door of UBIG, just as the cops were coming in the front. I cant see where but nonetheless I am intrigued by their manouvering/shenanigans.

[jonty]

Just been looking through some of the comments from Hearts fans on the Scotsman (something I don't do often as it's full of complete loonies) anyway the general opinion of Hearts fans is that there is some White Knight about to rescue them by buying the club before some 30 day rule which means no penalty points next season and because of this they will start next season debt free and without any points deduction.

Are they really that deluded are just living in the land of make believe. :ostrich: :titanic:

Some of their comments below

The Source - For the hard of thinking that read these posts, let me explain a few things. Hearts will be bought by a group, not an individual. Hearts will be sold for c£5m, possibly up to as much as £7m, but no more than that. The purchase will take place within the 30 day period UBIG have to withdraw their insolvency application. (meaning no penalty points for Hearts). UBIG will liquidate after that time. Assuming the price is £5m (for easy maths), it means the creditors of Ubig will secure 20p in the £ for the debt currently being carried by UBIG/Ukio Bankas.

Under normal administration/liquidation, the figure would be around 5 to 10p in the £. This represents an excellent opportunity for UBIG's creditors to salvage some return on their debt. These discussions are already at an advanced stage, and, will be concluded within the next fortnight/three weeks. Hearts will then be debt free, and start next season in the SPL in the strongest position they have been in for over 30 years. There may be some negotiating over the terms of the sale of Tynecastle, but, worst case scenario is a lease/buy back arrangement spread over an extended period of time.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Milky Bar Kid - UKIO Bankas is bankrupt. UBIG is insolvent and its assets are frozen.

A formal offer for the Romanov-controlled 94% shares has been made to the Lithuanian administrators, Valnetas UAB. (including Julija Goncaruk's 15%)

Hearts FC will have new owners as soon as the legals have been formalised and a due diligence inspection of the management accounts has been carried out.

Hearts FC will continue to trade as a going concern, with NO debt.

Hearts FC will rent Tynecastle Stadium for at least the next three seasons until a new 25,000 capacity stadium is built in the west of the city.

Hearts will NOT enter into administration and will meet its HMRC debt in full. Hearts were respected citizens for 132 years before Romanov arrived.

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Look to the North, the Norwegians are coming over the hill.

They will take over the club, minus the debt which will be gone along with UBIG, they will purchase Tynie from UKIO and the Liths will out.

Simples, Hearts will start the season in the SPL, debt free and without any point deduction

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


How does a 3 year deal end after 2 years? maybe he wants paid for once?

[HIBERNIAN-0762]

Total and utter b*llsh*t. Sorry Steve but as much as you think liquidation or administration is wishful thinking by some on here, your own thoughts on the subject are as far removed from reality as the deranged warblings by the likes of "The Source" on the Scotsmans comments section.

He's a fud alright that Source followed closely by Rolland who must think the answer to every single problem at the PBS is 1-5 1902 wee team

You really must read some of the utter garbage they come out with, they don't get it all they're own way of course, plenty Hibbies giving them it tight :wink:

[clerriehibs]

Someone's going to pay up to £7m for an almost worthless entity (as they're not buying the PBS I assume, given they say it'll be rented for 3 years), then they'll have to spend to build a team, then build a 25k seater stadium (having bought the land too)?

Really?

The cooncil is waiting in the wings.

[Spike Mandela]

I have a nagging doubt that somehow this has been carefully engineered to suit Hearts as the board left by the back door of UBIG, just as the cops were coming in the front. I cant see where but nonetheless I am intrigued by their manouvering/shenanigans.

This UBIG insolvency has been carefully choreographed by one of Fedetovas' chums. I'm sure they could easily have applied for an insolvency ages ago but have held out as long as they possibly could as a wee favour to old Feddy. He will be managing every loophole and financial piece of skullduggery that is still within his power.

[Gus Fring]

The cooncil is waiting in the wings.

There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

[Viva_Palmeiras]

The cooncil is waiting in the wings.
Yup me thinks so. And this will not go away until they or the council build a new wongadome in partnership or in another part of he green belt cleared to help the yams. **** the council and **** councillors.

[Sanger]

There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

[ScottB]

I really can't see how anyone will be able to buy the club, well, certainly the legal / corporate identity, anytime soon.

Hearts are at the heart (ugh) of a web of dodgy dealing and criminal activity. I'd imagine the Lithuanian state will be keen to unpick this mess, find where all the money came from and went to, to ensure they can nail the Mad one firmly to the wall.

All that will take time, years even. Hearts are frozen along with the rest of UBIGs assets and will surely stay that way. I can see the Admins / Liquidators selling off the stuff that can be sold from this mess, so in Hearts case the ground, but surely the club / company will remain frozen, as a central part of the investigation to come?


This being the case, at best FOH or whoever will be able to try and bid for the ground, maybe a few other things, but the dead husk of the club will remain frozen till the investigation ends. At best years from now whatever name the Yam newco, say AFC Hearts, takes might be able to bid to buy the name, as Florentina Viola eventually managed to get hold of the right to name itself Fiorentia a couple years after they went bust. All that will mean unlike The Rangers, there will be no chance of them claiming to be the same club, no argument about continuation or history...

[Treadstone]

There is not a chance in hell the council will build the Yams a stadium. It would never get funding and even if it did (it won't) it would need to be multipurpose and that means a running track around it.

:agree:

Nae danger. If a stadium was to be built Edinburgh rugby would have as much claim as the Yams. Couldn't justify it and would get slapped back down as soon as capacity was mentioned.

[Jack]

Yup me thinks so. And this will not go away until they or the council build a new wongadome in partnership or in another part of he green belt cleared to help the yams. **** the council and **** councillors.

Like Bajillions I don't think there is a snowballs hope in hell of the council helping out in any way. The cuffufle over Porty over green space and the reaction to their last attempt sees that as a non starter.

I'm sure that there wou be all hell to pay for the councillors who even mention it.

[Gus Fring]

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

[CropleyWasGod]

This UBIG insolvency has been carefully choreographed by one of Fedetovas' chums. I'm sure they could easily have applied for an insolvency ages ago but have held out as long as they possibly could as a wee favour to old Feddy. He will be managing every loophole and financial piece of skullduggery that is still within his power.

One loophole he can't escape is the Wrongful Trading legislation in the UK.

Any debts run up by HMFC since their own insolvency was established (and that date can be argued so many different ways. For me, it is when UBIG stopped supporting them; for others, it could be prior to then) become the personal debts of the Board. So, not only is there a potential financial liability for them, there is also prosecution.

That said, those considerations look like small beer compared to the Lith allegations.

[ScottB]

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

If they end up homeless they only really have three options, none of them good:

Murrayfield, too big, expensive.

Easter Road, I doubt their fans could stomach that, or us for that matter. We'd probably charge them through the nose as well to cover the damage they'd undoubtedly do during every game.

Livingston, probably the only one they could afford, but reduced capacity and distance would hurt them.

[Prof. Shaggy]

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

Except that the chances of them remaining in the SPL and attracting a crowd of even 57% of their current attendance are next to negligible.

(That's "next to" on the unlikely side of negligible).

[Sanger]

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

Yes the council has a great record of not being conned out of money for joint projects. The trams comes to mind.

[clerriehibs]

So 2 skint entities are planning on building a stadium together?

Meadowbank only holds 7500 so that would reduce Hearts income significantly (~43% lower attendances) and they need to give a certain number over to away fans (not sure if this is a % or a fixed number someone else may be able to answer that) I also don't think Meadowbank has undersoil heating, so that's a no go as far as SPL rules are concerned.

SPL rules?! Things they might abide by?

:faf:

oh stop it! My sides aree hurting! I usually look forward to your posts too!!!

[greenginger]

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.

There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

[Part/Time Supporter]

re: the possibility of the Council building a new Yam stadium, there is an interesting stushie developing in Northern Ireland. Crusaders FC is complaining that the proposed redevelopment of Windsor Park (funded by the NI Government) breaches competition law because it would be effectively state aid to Linfield.

http://www.bbc.co.uk/sport/0/football/22616193

This is in light of investigations started by the European Commission into similar aid for some Dutch clubs, including PSV.

http://www.bbc.co.uk/news/world-europe-22024669

[Sanger]

There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

They had a meeting in April with the council on a new proposal.

[Mikey]

re: the possibility of the Council building a new Yam stadium, there is an interesting stushie developing in Northern Ireland. Crusaders FC is complaining that the proposed redevelopment of Windsor Park (funded by the NI Government) breaches competition law because it would be effectively state aid to Linfield.

http://www.bbc.co.uk/sport/0/football/22616193

This is in light of investigations started by the European Commission into similar aid for some Dutch clubs, including PSV.

http://www.bbc.co.uk/news/world-europe-22024669

Wasn't there something like this in Spain recently with Real Madrid involved?

[Kojock]

There was a Council report from about 18 months ago on meetings and proposals for a Community Stadium and a land swop, the PBS for 15 acres or so at Sighthill.

It kind of got dropped like a hot potatoe when it turned out the independent report was written by a Yam shareholder. :wink:

I think Hearts said they would continue their quest for a new home themselves.

And 18 months ago the council thought Hertz owned the PBS.

It roughly costs £1 million per 1000 seats and that excludes the land costs. Never going to happen.

[greenginger]

http://local.stv.tv/edinburgh/103034-hearts-carrying-out-study-into-possible-new-sites-for-the-clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin

[CropleyWasGod]

And 18 months ago the council thought Hertz owned the PBS.

It roughly costs £1 million per 1000 seats and that excludes the land costs. Never going to happen.

Pedantically, they do. Albeit, it's the most negative of negative-equity situations..... :greengrin

[Gus Fring]

Wasn't there something like this in Spain recently with Real Madrid involved?

:agree:

http://www.independent.co.uk/sport/football/european/exclusive-real-madrid-under-investigation-amid-allegations-of-illegal-state-aid-8557550.html

[greenginger]

Wasn't there something like this in Spain recently with Real Madrid involved?


Real Madrid and Barcelona had special tax deals for years allowing foreign superstars to pay the minimum of tax.

This had to end with all the austerity measures in the country. Also Madrid got a present from Franco back in the day, of about 100 acres of parkland near the city centre which was used as training grounds and practice pitches.

However since the 70's, when finances get tight they just hive off a dozen or so acres to the estate agents.

Now that's what is really meant by an establishment Club ! :greengrin

[clerriehibs]

http://local.stv.tv/edinburgh/103034-hearts-carrying-out-study-into-possible-new-sites-for-the-clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin


I'm sure last time this surfaced, no-one was talking about a joint venture. The council would be building an arena, because they need one, allegedly, and the hertz spin on it was that they would rent it, but provide their requirements on the stadium's format.

[HIBERNIAN-0762]

I'm sure last time this surfaced, no-one was talking about a joint venture. The council would be building an arena, because they need one, allegedly, and the hertz spin on it was that they would rent it, but provide their requirements on the stadium's format.

Not in my life that would happen, if it did I would be proud to be cheerleader at a massive protest up the High Street

They can GTF, their arrogance is breathtaking.

[Viva_Palmeiras]

Like Bajillions I don't think there is a snowballs hope in hell of the council helping out in any way. The cuffufle over Porty over green space and the reaction to their last attempt sees that as a non starter.

I'm sure that there wou be all hell to pay for the councillors who even mention it.

Not even for combined with Edinburgh Rugby and some athletics venue?

I hope so Jack - they've proved themselves incapable of managing any infrastructure/capital spending project - you still cruising?

[greenginger]

May'be the Yams could have a 3 - way share here. :greengrin


http://www.scotsman.com/edinburgh-evening-news/rugby/top-rugby-stories/rugby-moving-matches-to-spartans-can-only-boost-edinburgh-1-2938171

[Viva_Palmeiras]

http://local.stv.tv/edinburgh/103034-hearts-carrying-out-study-into-possible-new-sites-for-the-clubs-stadium/


I think that is a report on the latest survey/proposal/delusion. Just remembered Council are not allowed to enter joint projects with any organisation whose financial viability is not Triple A rated. I don't think 6 out of a 100 cuts it. :greengrin

Surely there's ways around that - the Norwegians come in and build a half Ikea/half multiparty stadium and lease it to the dafties...

[Waxy]

Stadiums?
Where the yams are going city park would meet requirements.

Is Meadowbank not due to be demolished?

[greenlex]

I was relayed a story of two Norwegian teams . One team was struggling and their neighbours let them share their ground for a while. The struggling team built a new stadium with the help of the local authority. The one that let them share eventually went bust and were pumped into the lowest league. Beware is all I'm saying.

[Kojock]

Surely there's ways around that - the Norwegians come in and build a half Ikea/half multiparty stadium and lease it to the dafties...

If Ikea did build them a stadium would that mean they would have to play with a flat pack four..........I'll get ma coat

[clerriehibs]

Not in my life that would happen, if it did I would be proud to be cheerleader at a massive protest up the High Street

They can GTF, their arrogance is breathtaking.

It's featured on hibs.net multiple times, but what the heck. Here's the report the merricks commissioned a couple of years ago.

http://www.edinburgh.gov.uk/downloads/file/6125/report_on_stadium_options_for_heart_of_midlothan_f ootball_club

Some of the English in it suggests parts of it were probably provided by romanov! It's a funny thing, it's laughable but it also makes you angry at the same time. Anyway, it sets out how the cooncil should go about borrowing money in order to build a stadium to the merricks' spec!

[LeithBoozy]

The council might come under pressure from all the various yam groups. Federation of hearts supporters club, Associated foundation of hearts, New shareholders association, New heart of Midlothian supporters trust, Young hearts youth development committee, Save our hearts. Lets just call them F.A.N.N.Y.S. for short. :wink: Never trust this council.

[blackpoolhibs]

Just found some footage of Romanov trying to flee Lithuania.

http://www.youtube.com/watch?v=J1dnlqR7iqI

[Eyrie]

The council might come under pressure from all the various yam groups. Federation of hearts supporters club, Associated foundation of hearts, New shareholders association, New heart of Midlothian supporters trust, Young hearts youth development committee, Save our hearts. Lets just call them F.A.N.N.Y.S. for short. :wink: Never trust this council.

Their collective name is Save Hearts In Trouble (as used previously in this thread).

[Jack]

Not even for combined with Edinburgh Rugby and some athletics venue?

I hope so Jack - they've proved themselves incapable of managing any infrastructure/capital spending project - you still cruising?

Got back last week. It was fantastic thanks.

[CraigHibee]

Their collective name is Save Hearts In Trouble (as used previously in this thread).

:top marks

[Richibee]

Stadiums?
Where the yams are going city park would meet requirements.

Is Meadowbank not due to be demolished?
They are too late. City Park already being turned into flats.

[jgl07]

I was relayed a story of two Norwegian teams . One team was struggling and their neighbours let them share their ground for a while. The struggling team built a new stadium with the help of the local authority. The one that let them share eventually went bust and were pumped into the lowest league. Beware is all I'm saying.
There were two teams in the Manchester area. One had no usable ground because of wartime bombing and were invited by their more famous neighbours to share their ground.

The tenants did rather well and became more successful than their landlords going from strength to strength and they were able to effect repairs to their own ground. The rest is history although the two teams still dominate English Football.

[lapsedhibee]

There were two teams in the Manchester area. One had no usable ground because of wartime bombing and were invited by their more famous neighbours to share their ground.

The tenants did rather well and became more successful than their landlords going from strength to strength and they were able to effect repairs to their own ground. The rest is history although the two teams still dominate English Football.

Since we're talking about fitba and wartime now, I'd like to propose an alternative punishment for the yams' years of cheating. Never mind retrospective points deductions, a better precedent's here (http://www.dailymail.co.uk/sport/football/article-2275060/Manchester-United-Liverpool-incredible-match-fixing-scandal-1915.html), when Manure and Liverpuddle players were invited to the trenches to atone for their financial misdoings. Yams could be sent to Afghanistan. Mibbe they could form a pals' battalion? :dunno:

[s.a.m]

Since we're talking about fitba and wartime now, I'd like to propose an alternative punishment for the yams' years of cheating. Never mind retrospective points deductions, a better precedent's here (http://www.dailymail.co.uk/sport/football/article-2275060/Manchester-United-Liverpool-incredible-match-fixing-scandal-1915.html), when Manure and Liverpuddle players were invited to the trenches to atone for their financial misdoings. Yams could be sent to Afghanistan. Mibbe they could form a pals' battalion? :dunno:

This works for me.:aok:

[Saorsa]

Think they have gone to the council with a proposal to jointly build a stadium, renting Meadowbank as an interim solution realising administrator will take and sell Tynecastle. Have sources inside council who confirmed talks have been held. Although council unlikely to progress.Is that after they make good on the money already owed tae the cooncil and cooncil tax payers of this city or will that be getting bumped like everything else. Will the ***** at the cooncil even bother collecting the rent or just turn a blind eye tae it no being paid again.

[greenginger]

http://wck2.companieshouse.gov.uk//wcprodorder?ft=1

Julija Goncaruk resigns from the Yam Board. How will they cope without their fashion adviser .

Whose next ?

[Viva_Palmeiras]

Got back last week. It was fantastic thanks.

Nice one suitably tanned I expect ;) So what was your fave stop after Rio?

[Jack]

Nice one suitably tanned I expect ;) So what was your fave stop after Rio?

My apologies to everyone else for this non yam stuff.

Didn't go to Rio!

Flew to New York, via Amsterdam. Spent a few days there being typical tourists.

Got on a boat and went to Miami then to Cartagena in Columbia.

Next we transited the Panama Canal, awesome, on our way to Punterenas in Costa Rica. After that it was stops in Chiapas, Huatulco, Puerto Vallerta and Cabo San Lucas in Mexico before we jumped ship in Los Angles were we spent a few days doing Downtown, Hollywood, Santa Monica et al.

Flew home last week via Paris.

[Jack]

My apologies to everyone else for this non yam stuff.

Didn't go to Rio!

Flew to New York, via Amsterdam. Spent a few days there being typical tourists.

Got on a boat and went to Miami then to Cartagena in Columbia.

Next we transited the Panama Canal, awesome, on our way to Punterenas in Costa Rica. After that it was stops in Chiapas, Huatulco, Puerto Vallerta and Cabo San Lucas in Mexico before we jumped ship in Los Angles were we spent a few days doing Downtown, Hollywood, Santa Monica et al.

Flew home last week via Paris.

Edit: While in Huatulco I had a bracelet made up for my daughter. Took a video of the guy while he did it. By the end I had educated the guy and the video ends with him saying "Glory glory to the Hibees" and wishing us good luck in the cup. So there's a wee bit Hibs content :-)

[Treadstone]

Apologies if posted before, Ian Murray proves he is a politician by asking himself questions and answering none of them.

http://www.foundationofhearts.org/faqs/

Same questions but with feedback. Don't think the yams are on board.

http://www.hmfckickback.co.uk/index.php?/topic/128244-securing-the-future-foh-answers-your-questions/

:lolyam:

[JeMeSouviens]

Their collective name is Save Hearts In Trouble (as used previously in this thread).

If you make it Save Hearts In Tiny Eternally ... then I've got a song for you. It's Glorious! :wink:

[cocteautwin]

Apologies if posted before, Ian Murray proves he is a politician by asking himself questions and answering none of them.

http://www.foundationofhearts.org/faqs/

Same questions but with feedback. Don't think the yams are on board.

http://www.hmfckickback.co.uk/index.php?/topic/128244-securing-the-future-foh-answers-your-questions/

:lolyam:

That's a quality read. Complete idiocy on a major scale. They are making it up as they go along. It's actually quite frightening that people like Ian Murray are involved in running the country. Who votes for idiots like that?

[Liberal Hibby]

Apologies if posted before, Ian Murray proves he is a politician by asking himself questions and answering none of them.

http://www.foundationofhearts.org/faqs/

Same questions but with feedback. Don't think the yams are on board.

http://www.hmfckickback.co.uk/index.php?/topic/128244-securing-the-future-foh-answers-your-questions/

:lolyam:

Interesting even FoH don't think the club is currently self sufficient:

5. What are the campaign objectives?

The Foundation is planning to reach out to Hearts fans worldwide and give them the opportunity to understand how their club could be run for them and with them. This campaign would aim to gauge fans’ support for this initiative and, should it move forward, raise sufficient ongoing working capital to finance the current annual funding gap at HMFC (currently running at approximately £2 million per annum).

[grunt]

Interesting even FoH don't think the club is currently self sufficient:

5. What are the campaign objectives?

The Foundation is planning to reach out to Hearts fans worldwide and give them the opportunity to understand how their club could be run for them and with them. This campaign would aim to gauge fans’ support for this initiative and, should it move forward, raise sufficient ongoing working capital to finance the current annual funding gap at HMFC (currently running at approximately £2 million per annum).
Good spot.

[Ozyhibby]

Interesting even FoH don't think the club is currently self sufficient:

5. What are the campaign objectives?

The Foundation is planning to reach out to Hearts fans worldwide and give them the opportunity to understand how their club could be run for them and with them. This campaign would aim to gauge fans’ support for this initiative and, should it move forward, raise sufficient ongoing working capital to finance the current annual funding gap at HMFC (currently running at approximately £2 million per annum).

Also interesting that they do not see cutting costs as a way of dealing with the deficit, only raising more money.

[Treadstone]

That's a quality read. Complete idiocy on a major scale. They are making it up as they go along. It's actually quite frightening that people like Ian Murray are involved in running the country. Who votes for idiots like that?

'Idiocy on a major scale' barely does them justice. Was looking at an Alex Mackie interview with Evening News last November, cut ties with Supporters Direct as they were too close to a Massone bid. SD seem to be back on the scene and again Massone is sniffing.

http://www.scotsman.com/edinburgh-evening-news/football/top-stories/hearts-bid-chief-alex-mackie-answers-fans-questions-1-2666267

"In a candid disclosure of the Foundation’s plans, Mr Mackie said they were working “closely” with the 1874 Fighting Fund founded by Gary McKay; had cut ties with Supporters Direct Scotland because it appeared too “close” to the Angelo Massone bid, and dismissed an estimated £17.9 million valuation of the club as “unrealistically high”."

There seems to be some middle ground that needs to be achieved.

Ian Murray "There has been criticism on this forum of the £450,000 offer last year..." :faf:

[matty_f]

There are millions of shares in the Yams, who themselves valued the shares at a laughable 11p each recently. Even at a penny each it's likely that a majority shareholding would be too expensive for FoH. That's without dealing with any debt or buying the stadium.

[Liberal Hibby]

Also interesting that they do not see cutting costs as a way of dealing with the deficit, only raising more money.

Indeed - that was my thought too.

[7062]

'Reach out to Hearts fans worldwide...'

They need to wind their necks in.

[The Green Goblin]

Also interesting that they do not see cutting costs as a way of dealing with the deficit, only raising more money.

(U)Big teams don't have to cut costs...

[NorthNorfolkHFC]

AllisBarry announcing that Danny Wilson is due to sign a permanent contract.

Never realised they were so flush for cash.

[Coco Bryce]

Just had a conversation with a yam in my work. Now this guy is well educated and very good friends with Leslie Deans.

He just told me, Hearts are now fully self sufficient, will be debt free, in the SPL and owned by FOH next season :yamlaugh:

I was finding it very hard to keep a straight face during the whole conversation :greengrin

[Rasta_Hibs]

Who cares man! If they are going to die let them die in peace!

Big cup final this week, dinnae dirty it by mentioning they chumps!

[Treadstone]

Just had a conversation with a yam in my work. Now this guy is well educated and very good friends with Leslie Deans.

He just told me, Hearts are now fully self sufficient, will be debt free, in the SPL and owned by FOH next season :yamlaugh:

I was finding it very hard to keep a straight face during the whole conversation :greengrin

Ask him what 'fully self sufficient' means as opposed to self sufficient. Is it like being a little bit pregnant?:cb

[robinp]

Just had a conversation with a yam in my work. Now this guy is well educated and very good friends with Leslie Deans.

He just told me, Hearts are now fully self sufficient, will be debt free, in the SPL and owned by FOH next season :yamlaugh:

I was finding it very hard to keep a straight face during the whole conversation :greengrin

They still don't seem to have grasped that they are going to have to settle up 2 different companies, both of which will (hopefully) be in the hands of a state appointed Administrator, £10m + £15m being due, both of which have the main clubs assets offered up as collateral or security against the borrowings (the companies shares and main asset, the crumbling ground).

Offering the admins 3 shillings and a copy of underage voyeurism monthly is not going to cut it.

[greenginger]

Ask him what 'fully self sufficient' means as opposed to self sufficient. Is it like being a little bit pregnant?:cb

Did he say if Hector was just going to forget about the £ 1.5 million they've agreed to pay.

[Coco Bryce]

They still don't seem to have grasped that they are going to have to settle up 2 different companies, both of which will (hopefully) be in the hands of a state appointed Administrator, £10m + £15m being due, both of which have the main clubs assets offered up as collateral or security against the borrowings (the companies shares and main asset, the crumbling ground).

Offering the admins 3 shillings and a copy of underage voyeurism monthly is not going to cut it.

The word 'deluded' was made for them, they are absolutely hilarious.

[robinp]

The word 'deluded' was made for them, they are absolutely hilarious.

The thing about this self sufficient malarkey...are they planning on running an annual series of bake sales, lemonade stands, petting zoos, face painting, kissagrams and self proclaimed potential last game ever, every season in their cash flow projections or was that a dream I had near xmas?

Oh and 1-5, 1902, wee team wee cup, hobo docksiders, killed your club, no longer our rivals 110 etc etc

[Sanger]

Just had a conversation with a yam in my work. Now this guy is well educated and very good friends with Leslie Deans.

He just told me, Hearts are now fully self sufficient, will be debt free, in the SPL and owned by FOH next season :yamlaugh:

I was finding it very hard to keep a straight face during the whole conversation :greengrin


Exactly the same delusional attitude from Robinson to Romanov that got them on the mess in the first place. Some commentators say @feel sorry for the fans". I don't they brought on themselves and lorded over us. Chickens now coming home to roost.

[Part/Time Supporter]

The thing is, they aren't **that** far off "self-sufficiency" once they get rid of Zaliukas et al. The only problem is that this position is predicated on them having mates rates loans from UBIG and Ukio. If the Lithuanian Govt pushes those up to a more realistic rate, let alone demanding capital repayments in addition to the interest, then it would blow a hole of £1M+ in the HMFC budget.

[bingo70]

The thing is, they aren't **that** far off "self-sufficiency" once they get rid of Zaliukas et al. The only problem is that this position is predicated on them having mates rates loans from UBIG and Ukio. If the Lithuanian Govt pushes those up to a more realistic rate, let alone demanding capital repayments in addition to the interest, then it would blow a hole of £1M+ in the HMFC budget.

What about the fact there turnover will go down MassIvely? They won't have cup finals every year or money spinning European ties plus when they lose there big earners they will more than likely have a pisher team which will likely lead to lower attendances.

I think they must be a million.miles away from breaking even every season.

[Hibby Kay-Yay]

The thing is, they aren't **that** far off "self-sufficiency" once they get rid of Zaliukas et al. The only problem is that this position is predicated on them having mates rates loans from UBIG and Ukio. If the Lithuanian Govt pushes those up to a more realistic rate, let alone demanding capital repayments in addition to the interest, then it would blow a hole of £1M+ in the HMFC budget.

Are they even making payments on 4% just now? From looking at the accounts they are paying 20k a month when it should be nearer 37k? Unless I've picked this up wrong? Plus where will they get 10million and 15million respectively when they fall due in a couple of years??

Oh yeah, forgot, a membership scheme, cake bakes and players worth millions that they will sell on!

[JeMeSouviens]

The thing is, they aren't **that** far off "self-sufficiency" once they get rid of Zaliukas et al. The only problem is that this position is predicated on them having mates rates loans from UBIG and Ukio. If the Lithuanian Govt pushes those up to a more realistic rate, let alone demanding capital repayments in addition to the interest, then it would blow a hole of £1M+ in the HMFC budget.

Another problem is they've probably blown most of the ST money they've taken in for next season on this season's wages. Barring new owners with very deep pockets they're going to be running out of cash again.

[Part/Time Supporter]

What about the fact there turnover will go down MassIvely? They won't have cup finals every year or money spinning European ties plus when they lose there big earners they will more than likely have a pisher team which will likely lead to lower attendances.

I think they must be a million.miles away from breaking even every season.

Turnover doesn't tend to fall or rise that dramatically. That was part of their problem, they thought that by "investing" in the team that income would increase significantly - more through corporate support than gates. Their crowds did go up a bit initially, but there was little additional income from other sources. Some of Romanov's rants railed at the Edinburgh business community for failing to support them.

Even if Hearts were completely guff on the pitch and battling away, their crowds probably wouldn't drop below 10-11K and their corporate income would be largely intact. For example, Wonga have already signed up.

[YehButNoBut]

More leaving the sinking ship?

http://www.bbc.co.uk/sport/0/football/22627769?utm_source=dlvr.it&utm_medium=twitter

Hearts: Edgaras Jankauskas & board member leave club

Edgaras Jankauskas is leaving his role as Hearts assistant manager, with director Julija Goncaruk having departed the club's board. Former Tynecastle player Jankauskas joined the backroom staff last summer.

"It has been a great experience, an honour and privilege to have been here as assistant manager for a year," the Lithuanian told the Hearts website.

Goncaruk is niece to major shareholder Vladimir Romanov and was involved in retail and commercial operations.

She first became a director in 2005, previously worked at Romanov's company UBIG and remains the sole director of Quantum Holdings, a Swiss-based company
which owns 15% of Hearts.

[Crazyhorse]

Goncaruk is niece to major shareholder Vladimir Romanov and was involved in retail and commercial operations.

She first became a director in 2005, previously worked at Romanov's company UBIG and remains the sole director of Quantum Holdings, a Swiss-based company
which owns 15% of Hearts.[/QUOTE]

Is this of any significance?

[Crazyhorse]

Just had a conversation with a yam in my work. Now this guy is well educated and very good friends with Leslie Deans.

He just told me, Hearts are now fully self sufficient, will be debt free, in the SPL and owned by FOH next season :yamlaugh:

I was finding it very hard to keep a straight face during the whole conversation :greengrin



They seem to swing between gallows humour and spouting this sort of rubbish to keep their spirits up I suppose.
Unfortunately for them the noose really is tightening ....

[Baldy Foghorn]

They seem to swing between gallows humour and spouting this sort of rubbish to keep their spirits up I suppose.
Unfortunately for them the noose really is tightening ....

Nothing unfortunate about that:cb

[scoopyboy]

More leaving the sinking ship?

http://www.bbc.co.uk/sport/0/football/22627769?utm_source=dlvr.it&utm_medium=twitter

Hearts: Edgaras Jankauskas & board member leave club

Edgaras Jankauskas is leaving his role as Hearts assistant manager, with director Julija Goncaruk having departed the club's board. Former Tynecastle player Jankauskas joined the backroom staff last summer.

"It has been a great experience, an honour and privilege to have been here as assistant manager for a year," the Lithuanian told the Hearts website.

Goncaruk is niece to major shareholder Vladimir Romanov and was involved in retail and commercial operations.

She first became a director in 2005, previously worked at Romanov's company UBIG and remains the sole director of Quantum Holdings, a Swiss-based company
which owns 15% of Hearts.

Getting the Liths out the country before the bulldozers move in in case of reprisals.

[Crazyhorse]

Nothing unfortunate about that:cb

True. And I'm going to tell you something. When that rope starts to pull tight, you can feel the Devil bite your ass.

[Crazyhorse]

True. And I'm going to tell you something. When that rope starts to pull tight, you can feel the Devil bite your ass.

Your little icon made me think of Blondie..

[Mister P]

Evening news, page 56-57

£25m in debt
£22m exchanged in a debt for equity deal
£15m+ of player sales from Craig Gordon onwards

And they're still up a gumtree.


Happy days!

[JeMeSouviens]

Bazza's effort is here:

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-paying-for-years-of-excess-1-2939671

[Part/Time Supporter]

re: the possibility of the Council building a new Yam stadium, there is an interesting stushie developing in Northern Ireland. Crusaders FC is complaining that the proposed redevelopment of Windsor Park (funded by the NI Government) breaches competition law because it would be effectively state aid to Linfield.

http://www.bbc.co.uk/sport/0/football/22616193

This is in light of investigations started by the European Commission into similar aid for some Dutch clubs, including PSV.

http://www.bbc.co.uk/news/world-europe-22024669

Further to this case, a judge has allowed Crusaders to take the proposed investment to judicial review.

http://www.bbc.co.uk/sport/0/football/22625278

[Dashing Bob S]

Stadiums?
Where the yams are going city park would meet requirements.

Is Meadowbank not due to be demolished?

They will hard pushed to play in any league, at any level, next season. I think we'll have to do with a few years of no Hearts before they reconstitute, groundless, and try to work their way back up through the lower leagues.

The next derby should around 2023/24.

[Platinum Scotty]

Not sure if its been mentioned before, but this is on the Evening News from "Wee Donald Ford"

sounds optimisitic, and a quick check of the company quoted suggests that they are a "one man" operation based at a mail forwarding address................

Sorry if its a duplicate.

Statement on our involvement with a possible bid for Heart of Midlothian FC .Published on May 22, 2013

Crest SportsGroup have been contacted by a number of people during the past couple of days, asking for details about our involvement with the Scandinavian consortium reported to be interested in buying Heart of Midlothian FC in Edinburgh. Whilst we understand that there are a lot of rumours going around and that fans of the club naturally wish to know what is going on with their favourite club, we do not have as a policy to reveal client details or detailed information of our projects to outsiders, be it media or others.

We can confirm however, that we since mid 2012 have been working with a mandate from a group of Scandinavian businessmen, to investigate the situation at Heart of Midlothian FC; including the ownership situation, the finances, and the possibility of a take over.

As part of this process we have developed a comprehensive business case and action plan for the club on behalf of this group of investors and we believe there is a considerable commercial upside in the club given the right management and organisational structure.
We have made contact with the appropriate authorities in Lithuania and elsewhere to gain access to the necessary information, as well as make it known that this group of businessmen may be interested in fielding a bid for the club.

We currently have a team working full time in Kaunas to monitor the situation and keep contact with the appropriate parties in relation to the situation at Heart of Midlothian FC. This team includes the necessary local legal capacity to field a bid for the club and negotiate the terms of a takeover, should a decision to move ahead be taken.

We must stress though, that the final decision whether to field a bid has not been made, and will depend on the outcome of current processes surrounding UKIO Bankas and UBIG as well as other companies related to Vladimir Romanov and UBIG. A bid would be based on a single cash payment to take over the club without the debt owed to UKIO and UBIG and other companies owned and controlled by Vladimir Romanov and his family.

Until instructed to do so, we are prevented by client confidentiality to reveal the identities of the group of businessmen, and their decision to step forward will be taken entirely by themselves when appropriate.
We can confirm though, that most of them have educational background from Edinburgh, and they all consider themselves supporters of Heart of Midlothian FC.
Part of their motivation in this process is to safeguard the club against any future situations like the one that has now arisen as a result of the situation with Vladimir Romanovs companies. To ensure this, they would implement an operating model similar to that used by Scandinavian professional football clubs, where the fans/members play a considerable role in the governance of the club.
We have held initial talks with the Foundation of Hearts and keep an open channel to them including the exchange of information, but no formal agreement on cooperation has been signed.

Crest SportConsulting Ltd and Crest SportInvest Ltd act purely in an advisory function and are not in any way planned or foreseen as owners in a potential future ownership of Heart of Midlothian FC.
Our current mandate ends when negotiations for a possible takeover have succeeded, or a decision not to field a bid has been made.

No further comment will be made at the present time as this may compromise the processes going on in Lithuania and elsewhere.

London/Edinburgh May 22nd 2013
Craig Henderson
Managing Partner

[Keith_M]

Bazza's effort is here:

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-paying-for-years-of-excess-1-2939671


Interesting stuff, kinda let down by two things:


Where was the investigative journalism to uncover this during the Romanov era?

....and the ever faithful "Cutbacks and squad downsizing leave the Edinburgh club self-sustainable for the future,"

[Waxy]

Bazza's effort is here:

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-paying-for-years-of-excess-1-2939671The details of the overspend are ok,though he seems to think the worst that will happen is they'll get a 15pt penalty.
a 15pt penalty should be the least of their worries.

[Gus Fring]

It annoys me he gets the company name wrong, repeatedly. It's called the Ūkio banko investicinė grupė, Not Ukio Bankas investment group (which is the english translation. It's bad form to translate company names when writing about them. normal procedure would be a translation after the original. At least, that's what I was taught. I don't believe Barry has any journalistic qualifications, though. His articles are likely submitted in crayon to be typed up.

[JeMeSouviens]

Not sure if its been mentioned before, but this is on the Evening News from "Wee Donald Ford"

sounds optimisitic, and a quick check of the company quoted suggests that they are a "one man" operation based at a mail forwarding address................



Well, they do appear to exist ...

http://w162152-pantero.php5.dittdomene.no/news/post/210512-statement-on-our-involvement-with-heart-of-midlothian-fc

Seems to be a consultant (Jambo judging by his twitter feed) hired by the same bunch of Scandis that were mooted as bidders a while back. Sounds like they're hovering in the hope of a cheapo deal with the Lithuanian liquidators. Given the FoH muppets' reaction to them last time they were rumoured, I doubt they have the sort of cash needed.

[The Green Goblin]

True. And I'm going to tell you something. When that rope starts to pull tight, you can feel the Devil bite your ass.

There are two kinds of people in this world my friend: normal people who live in the real world and yams. :greengrin

[Sanger]

Evening news, page 56-57

£25m in debt
£22m exchanged in a debt for equity deal
£15m+ of player sales from Craig Gordon onwards

And they're still up a gumtree.


Happy days!

misses the £8.8 million of debt forgiven by Romanov group Panamanian company. And where did that company get the £8.8m and UBIG get the £22m and £10m from? They borrowed it from Ukio Bankas. A pack of cards!

[Andy74]

A few of them still seem to think that all that has happened is the debt has stayed the same as when they had Robinson. Aye, after £15m or so in player sales and £22m in questionable write offs and equity swaps. So, only £40m or so out.

[Platinum Scotty]

Well, they do appear to exist ...

http://w162152-pantero.php5.dittdomene.no/news/post/210512-statement-on-our-involvement-with-heart-of-midlothian-fc

Seems to be a consultant (Jambo judging by his twitter feed) hired by the same bunch of Scandis that were mooted as bidders a while back. Sounds like they're hovering in the hope of a cheapo deal with the Lithuanian liquidators. Given the FoH muppets' reaction to them last time they were rumoured, I doubt they have the sort of cash needed.

Seems all a bit vague the whole web site - one of the "MD's" is pictured in a Hearts top

[Andy74]

Seems all a bit vague the whole web site - one of the "MD's" is pictured in a Hearts top

So far as a company they seem to have entered a couple of agreements that they have since withdrawn from and their main activity seems to be whatever this nonsense bid is with Hearts.

[Eyrie]

A bid would be based on a single cash payment to take over the club without the debt owed to UKIO and UBIG and other companies owned and controlled by Vladimir Romanov and his family.

I presume the "single cash payment" is to acquire the PBS for more than a property developer or supermarket will pay for the site, followed by the Lithuanian taxpayers being kind enough to write off the rest of the £25m.

There is more chance of Neil Lennon being gracious in defeat on Sunday than that happening.

[JeMeSouviens]

Funnily enough, Crest Sports has a Norwegian partner, Kai Isaksen, who studied at Heriot Watt, has some previous connection to Hearts (possibly did some work for them?) and has been involved in some Norwegian sports clubs. Hitting all the "Scandinavian Consortium" buttons so far. :wink:

He also:

- couldn't come up with the readies for an agreed sponsorship deal with Edinburgh Capitals ...

http://www.edinburgh-capitals.com/index.php?option=com_content&view=article&id=70:capitals-blow-as-crest-sportsgroup-sponsorship-falls-through&catid=2:news&Itemid=7

- appears to have been involved in a potentially fraudulent deal to have Irn-Bru as a sponsor for a Norg football team ...

http://en.wikipedia.org/wiki/Irn-Bru#Norway
http://dt.no/sport/mif/mif-utsatt-for-sponsorbloff-1.5342594


The Yams on sickbag are wetting themselves at the news and I have to say that so far he sounds ideal to me too. :aok:

Looks very Yammish as well ...

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSQAM2rR9jTWPuEPQmacB1pqdm5I6q8J nHILqWkYcqZ3WVrlMnTDA

[Gus Fring]

The following part of their statement was interesting.


A bid would be based on a single cash payment to take over the club without the debt owed to UKIO and UBIG and other companies owned and controlled by Vladimir Romanov and his family.

On the face of it, that would make this whole thing a no go then, cos that debt isn't going away.

[Phil D. Rolls]

Anybody know where I can buy Viking helmets. I sense a window in the market.

[JeMeSouviens]

The following part of their statement was interesting.



On the face of it, that would make this whole thing a no go then, cos that debt isn't going away.

Well, unless the cash payment is very, very large. :cb

[Eyrie]

Well, unless the cash payment is very, very large. :cb
They're going to need to shift a lot of cakes for that to happen.

[Saorsa]

Anybody know where I can buy Viking helmets. I sense a window in the market.For wearing or kicking? :greengrin

[Gus Fring]

Well, unless the cash payment is very, very large. :cb

I get the impression the bid would only be made after the debt had been shed.

In all seriousness, can anyone explain why someone would buy Hearts when they're are other teams in the SPL who have a lot less problems, say Hibs (Hypothetically) This looks to me like someone considering a derilict 3 bedroom house with no roof and a rat infestation when there is a well looked after mansion next door for not much more.

[Mikey]

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSQAM2rR9jTWPuEPQmacB1pqdm5I6q8J nHILqWkYcqZ3WVrlMnTDA


They're going to need to shift a lot of cakes for that to happen.

Well he's the very man to dispose of a few dozen. In one sitting.

[Andy74]

Funnily enough, Crest Sports has a Norwegian partner, Kai Isaksen, who studied at Heriot Watt, has some previous connection to Hearts (possibly did some work for them?) and has been involved in some Norwegian sports clubs. Hitting all the "Scandinavian Consortium" buttons so far. :wink:

He also:

- couldn't come up with the readies for an agreed sponsorship deal with Edinburgh Capitals ...

http://www.edinburgh-capitals.com/index.php?option=com_content&view=article&id=70:capitals-blow-as-crest-sportsgroup-sponsorship-falls-through&catid=2:news&Itemid=7

- appears to have been involved in a potentially fraudulent deal to have Irn-Bru as a sponsor for a Norg football team ...

http://en.wikipedia.org/wiki/Irn-Bru#Norway
http://dt.no/sport/mif/mif-utsatt-for-sponsorbloff-1.5342594


The Yams on sickbag are wetting themselves at the news and I have to say that so far he sounds ideal to me too. :aok:

Looks very Yammish as well ...

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSQAM2rR9jTWPuEPQmacB1pqdm5I6q8J nHILqWkYcqZ3WVrlMnTDA

He he. Their press release talks about educational links to Edinburgh.

I really hope they are getting excited about this!

[Andy74]

I get the impression the bid would only be made after the debt had been shed.

In all seriousness, can anyone explain why someone would buy Hearts when they're are other teams in the SPL who have a lot less problems, say Hibs (Hypothetically) This looks to me like someone considering a derilict 3 bedroom house with no roof and a rat infestation when there is a well looked after mansion next door for not much more.

You couldn't buy Hibs for just a few quid and most other teams need significant infrastructure investment. There is no money to be made though.

[rcarter1]

I get the impression the bid would only be made after the debt had been shed.

In all seriousness, can anyone explain why someone would buy Hearts when they're are other teams in the SPL who have a lot less problems, say Hibs (Hypothetically) This looks to me like someone considering a derilict 3 bedroom house with no roof and a rat infestation when there is a well looked after mansion next door for not much more.

To be fair it is easier to prepare a bid for a club that is looking to be bought. Norway vs Lithuania over tynecastle. Fun?

[Topographic Hibby]

He he. Their press release talks about educational links to Edinburgh.
I've got some O grades and a Higher in Geography, courtesy of Leith Academy. Also got my bank statement in this morning and I've just avoided going into overdraft this month by £1.36.

Awaiting the call from a fat Nordic bloke.......

[Saorsa]

http://i43.tinypic.com/xagw4.gif

[Gus Fring]

To be fair it is easier to prepare a bid for a club that is looking to be bought. Norway vs Lithuania over tynecastle. Fun?

I thought Hibs were always for sale to the right buyer? I'm sure I read that before.

[Mikey]

http://i43.tinypic.com/xagw4.gif

:hilarious

[brog]

How do Yams & Allisbarry continue to get away with statements that " they have not received funding from UBIG/UKIO for 18 months ". They're paying interest on a loan, their own a/c's show it, in which way is a loan not funding & how stupid are our journos?? Sorry, stupid questions!!

[Skol]

and payingv back the loan at favourable terms they couldnrt get elsewhere

[rcarter1]

I thought Hibs were always for sale to the right buyer? I'm sure I read that before.

Rings a bell now that you mention it, but its not exactly in the news every day. I suspect that once again (ie similar to when Vlad came in for them) Hearts look the easy option if you believe you can pull a fast one over the Lith admins. In an auction, and with Hearts debt out of the equation, surely Hibs are worth a lot more considering stadium issues etc. Have to say the guy looks like a Jambo so I suspect this will end in tears when his 5 pence in the pound offer is rejected.

[Treadstone]

Looks very Yammish as well ...

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSQAM2rR9jTWPuEPQmacB1pqdm5I6q8J nHILqWkYcqZ3WVrlMnTDA

That's a lesbian James Corden

[rcarter1]

How do Yams & Allisbarry continue to get away with statements that " they have not received funding from UBIG/UKIO for 18 months ". They're paying interest on a loan, their own a/c's show it, in which way is a loan not funding & how stupid are our journos?? Sorry, stupid questions!!

Presumably they only mean that Hearts havent been getting any new money put in during that period? The fact that they may well be self sufficient (when ignoring the debts) is of course irrelevant if in the end they are held to the full amount - or substantial portion - of the debt.

[Pedantic_Hibee]

That's a lesbian James Corden

:faf:

[Phil D. Rolls]

http://i43.tinypic.com/xagw4.gif


:hilarious

Four helmets, licking hats.

Can't see Gary MacKay putting one on, say, to publicise, season ticket sales, a share issue, or even himself. Always been a bit camera shy our Gary.

[Phil D. Rolls]

He he. Their press release talks about educational links to Edinburgh.

I really hope they are getting excited about this!

Frying pan, meet fire.

[Greentinted]

Four helmets, licking hats.

Can't see Gary MacKay putting one on, say, to publicise, season ticket sales, a share issue, or even himself. Always been a bit camera shy our Gary.

Particularly where stupit bunnets are concerned. :agree:

9970

[Phil D. Rolls]

Particularly where stupit bunnets are concerned. :agree:

9970

A momentary abberation I'm sure, along the lines of Max Moseley or Prince Harry. I bet Gary didn't even know the press were there.

[FranckSuzy]

That's a lesbian James Corden

:faf:

[Saorsa]

Particularly where stupit bunnets are concerned. :agree:

9970I would have thought he'd have worn his medals for that pic TBH :agree:

[Viva_Palmeiras]

Well he's the very man to dispose of a few dozen. In one sitting.

Never mind cakes he could dispose of a few dozen people in one sitting!

[robinp]

Funnily enough, Crest Sports has a Norwegian partner, Kai Isaksen, who studied at Heriot Watt, has some previous connection to Hearts (possibly did some work for them?) and has been involved in some Norwegian sports clubs. Hitting all the "Scandinavian Consortium" buttons so far. :wink:

He also:

- couldn't come up with the readies for an agreed sponsorship deal with Edinburgh Capitals ...

http://www.edinburgh-capitals.com/index.php?option=com_content&view=article&id=70:capitals-blow-as-crest-sportsgroup-sponsorship-falls-through&catid=2:news&Itemid=7

- appears to have been involved in a potentially fraudulent deal to have Irn-Bru as a sponsor for a Norg football team ...

http://en.wikipedia.org/wiki/Irn-Bru#Norway
http://dt.no/sport/mif/mif-utsatt-for-sponsorbloff-1.5342594

The Yams on sickbag are wetting themselves at the news and I have to say that so far he sounds ideal to me too. :aok:

Looks very Yammish as well ...



Looks like an Uber fat James Cordon with a rapey tendancy!

Edit: beaten to it!

[greenpaper55]

This from the Beeb website


"We must stress though, that the final decision whether to field a bid has not been made, and will depend on the outcome of current processes surrounding Ukio Bankas and UBIG as well as other companies related to Vladimir Romanov and UBIG.
"A bid would be based on a single cash payment to take over the club without the debt owed to Ukio and UBIG and other companies owned and controlled by Vladimir Romanov and his family."

So they want THEM for a single cash payment and the Lithuanians can kiss the rest of the debt goodbye , i wonder what the single cash payment would be ?.:faf:

[HIBERNIAN-0762]

Am I hearing it right from a couple of mates that they have been officially declared insolvent?, there's a few posted about it on the Scotsman forum but can't see anything definite.

[Gus Fring]

Am I hearing it right from a couple of mates that they have been officially declared insolvent?, there's a few posted about it on the Scotsman forum but can't see anything definite.

"They" as in Hearts or UBIG? The latter is the most likely.

[lapsedhibee]

Presumably they only mean that Hearts havent been getting any new money put in during that period? The fact that they may well be self sufficient (when ignoring the debts) is of course irrelevant if in the end they are held to the full amount - or substantial portion - of the debt.

It's the Stevie "Fail" Fail legacy. We don't owe anyone at all, anywhere, any money if you only take into account the people to whom we don't owe any money; we don't have any debt apart from the money that we owe to people; we're self-sufficient if you don't count the money that people give us, etc. All this thinking would not be sustainable if it wasn't for Stevie's initial (I paraphrase) "We'd be top of the league if you only took into account the matchdays on which we won games by bigger scores than other teams". He set a standard, raised a bar for the future.

Speaking about raising things puts me in mind of razing things. Are they deid yet, and can the bulldozer smileys move in?

[Platinum Scotty]

Lifted from the Scotsman............

• A US tycoon is reportedly also interested in Hearts, though he’s only willing to pay a pound for them. (Sun)

That seems a high figure LOL

[grunt]

• A US tycoon is reportedly also interested in Hearts, though he’s only willing to pay a pound for them. (Sun)

That seems a high figure LOLThat's the same price that Craig Whyte paid for Oldco Rangers, and we all know how that ended up.

[Phil D. Rolls]

Lifted from the Scotsman............

• A US tycoon is reportedly also interested in Hearts, though he’s only willing to pay a pound for them. (Sun)

That seems a high figure LOL

I'll buy this football club for a pound.

Alright 75p, I won't bankrupt this football club for 75p.

[Waxy]

Camera crew outside tynie now

[Cabbage East]

AGM today. Just imagine the lies and spin that'll be floating about.

[Waxy]

Oh aye. Forgot about that. Was hoping something bad was happening to them. Does that make me a bad person?

[SurferRosa]

AGM today. Just imagine the lies and spin that'll be floating about.

I`m quite sure they`ll all float out of the PBS on a cushion of air, serenaded by angels and all with a warm, fuzzy glow inside after being told that everything`s going to be just peachy.

[Leithenhibby]

Social Media will be interesting today/night.

The spin and lies that will surface should give us a good chuckle...... :aok:

[copycat]

Now from the start sat and watched things unfold knowing full well that at somepoint yams were going to go pop and have face a hefty boot in the baws, after the last 2 weeks it is clear that the future isnt bright and survival must be key and should they avoid insolvency and get away with a 15 point deduction while remaining in the SPL they have clearly won a watch, in fact big ****** ben!!!

I thought i would pop over to slimeback for a troll, low and behold a thread which has the team good enough to finish 2nd next season, not only that but packed with high earners, what the hell are these idiots eating and drinking in Gorgie, any other club would be out in force demanding answers but not these clowns, clearly sitting enjoying Jeremy Kyle and thinking life is grand!!

They really are more delusional than i thought and that is saying something.

[SurferRosa]

Now from the start sat and watched things unfold knowing full well that at somepoint yams were going to go pop and have face a hefty boot in the baws, after the last 2 weeks it is clear that the future isnt bright and survival must be key and should they avoid insolvency and get away with a 15 point deduction while remaining in the SPL they have clearly won a watch, in fact big ****** ben!!!

I thought i would pop over to slimeback for a troll, low and behold a thread which has the team good enough to finish 2nd next season, not only that but packed with high earners, what the hell are these idiots eating and drinking in Gorgie, any other club would be out in force demanding answers but not these clowns, clearly sitting enjoying Jeremy Kyle and thinking life is grand!!

They really are more delusional than i thought and that is saying something.

To be fair, every reply to that ridiculous OP is ripping the pish out the guy..

[Devilstorment]

It beggars belief really that they have their heads so far in the sand....:ostrich:

Carefull how much time you spend on that site though, I hear it has been added to a Government watch list for catching Peado's

[StevieInReverse]

The fact that they have said this is worrying. Well not really puts huge expectation on the manager and when he fails they will want him out. But what do I know I'm a hibby I support the wee team 5-1 and all that jambo f*ds

[Andy74]

It's a pity that not one valid or interesting question has ever been asked at one of their AGMs.

[Sergio sledge]

There's a thread on KB about the AGM and someone is claiming that in HoMFC's projections for the coming season they need £1m from player sales and £1.5m from a fan membership scheme in order to break even. So after raising just over £1m in a share issue where the prospect of the club going bust mid season was very real, they expect to be able to raise another £1.5m from the same fans in the coming season. They're mad.

Edit: here if anyone wants a laugh. http://www.hmfckickback.co.uk/index.php?/topic/128308-agm/

[matty_f]

It's a pity that not one valid or interesting question has ever been asked at one of their AGMs.

Harsh there, Andy. Remember, if it wasn't for someone asking difficult questions that lightbulb might never have been replaced.

Think before you post, that's all I'm saying.:agree:

[alexedwards]

Lifted from the Scotsman............

• A US tycoon is reportedly also interested in Hearts, though he’s only willing to pay a pound for them. (Sun)

That seems a high figure LOL

According to the actual Sun article it's a £1 bid plus US guy taking on the full debt - and that is a completely different ball game. All I have heard so far is a preference for "debt-free" offers.
Surely if you are an administrator/ubig the offer of writing off £25m from the books has to be attractive? :dunno:

[bingo70]

There's a thread on KB about the AGM and someone is claiming that in HoMFC's projections for the coming season they need £1m from player sales and £1.5m from a fan membership scheme in order to break even. So after raising just over £1m in a share issue where the prospect of the club going bust mid season was very real, they expect to be able to raise another £1.5m from the same fans in the coming season. They're mad.

Who could they sell for £1m? IMO they've not got anybody worth anything.

[matty_f]

There's a thread on KB about the AGM and someone is claiming that in HoMFC's projections for the coming season they need £1m from player sales and £1.5m from a fan membership scheme in order to break even. So after raising just over £1m in a share issue where the prospect of the club going bust mid season was very real, they expect to be able to raise another £1.5m from the same fans in the coming season. They're mad.

Has to be bollocks, they're self-sufficient now (ignore the loss, and the share issue - which was definitely for youth development and that, not a tax bill that they were hit with for the same amount, by the way - and the cake bakes, the face painting, the plea to get fans in to fill the stadium, the comments that the budgets were based on a top 6 finish etc). They are definitely self-sufficient. Yes, sir.

Only a matter of time before they kindly walk away from millions of pounds of debt to give the club to someone for a song.

[matty_f]

According to the actual Sun article it's a £1 bid plus US guy taking on the full debt - and that is a completely different ball game. All I have heard so far is a preference for "debt-free" offers.
Surely if you are an administrator/ubig the offer of writing off £25m from the books has to be attractive? :dunno:

Just how mental would you have to be to take on the debt of a football club that has shown quite categorically that it is wholly unable to trade out of it?

[matty_f]

Who could they sell for £1m? IMO they've not got anybody worth anything.

Harsh there, Bingo. They've got the best young players in the country. McHattie, that other boy that kicked thin air and fell over, the boy that took the dive... there must be tens of pounds of talent there.

I guess I'm just trying to say "think before posting".

[bingo70]

Harsh there, Bingo. They've got the best young players in the country. McHattie, that other boy that kicked thin air and fell over, the boy that took the dive... there must be tens of pounds of talent there.

I guess I'm just trying to say "think before posting".

Why don't they have a family fun day? there could be a bake sale, face painting and even a bouncy castle, could that not make up the difference?

[Sergio sledge]

Harsh there, Bingo. They've got the best young players in the country. McHattie, that other boy that kicked thin air and fell over, the boy that took the dive... there must be tens of pounds of talent there.

I guess I'm just trying to say "think before posting".

True, they've also got Dylan McGowan.

In all seriousness, if this is the case then they are gambling on Wilson signing a deal and playing well enough to sell him in the January window IMHO.

[Hibbyradge]

According to the actual Sun article it's a £1 bid plus US guy taking on the full debt - and that is a completely different ball game. All I have heard so far is a preference for "debt-free" offers.
Surely if you are an administrator/ubig the offer of writing off £25m from the books has to be attractive? :dunno:

So he buys the club and the debt for £1 then immediately goes into administration, thereby freeing himself of the debt.

Clever plan. I doubt the UBIG administrator would see that one coming.

[bingo70]

True, they've also got Dylan McGowan.

In all seriousness, if this is the case then they are gambling on Wilson signing a deal and playing well enough to sell him in the January window IMHO.

If anyone was interested in that huddy they'd just get him now when he's out of contract and not wait 6 months so they can pay £1m for him.

[Sergio sledge]

A HoMFC fans reaction to the membership scheme:

"You would have to be stark raving made to sign up to a membership scheme under the current incumbents. They can run and take a bite of my sh**e before I'll be donating a penny more to them than is required to purchase my season ticket."

:faf:

[matty_f]

True, they've also got Dylan McGowan.

In all seriousness, if this is the case then they are gambling on Wilson signing a deal and playing well enough to sell him in the January window IMHO.

It's a bit optimistic thinking they can take a player that Liverpool have lost a huge amount of money (in SPL terms) on, and turn him into a decent player.

[Sergio sledge]

It's a bit optimistic thinking they can take a player that Liverpool have lost a huge amount of money (in SPL terms) on, and turn him into a decent player.

They are very optimistic on a lot of things. They're still talking about stadium re-development......

[alexedwards]

So he buys the club and the debt for £1 then immediately goes into administration, thereby freeing himself of the debt.

Clever plan. I doubt the UBIG administrator would see that one coming.

You mean like The Club Formerly Known As Rangers didn't see it coming? :wink:

[matty_f]

They are very optimistic on a lot of things. They're still talking about stadium re-development......

Harsh there Sergio, the stadium's been upgraded a few times. Remember wind blew down a big Pressley poster, and footballs have knocked holes in the roof of the old stand, causing thousands of pounds worth of improvements... and let's not forget that lightbulb repair.

They've also had volunteers in to pitch fork the pitch, you can't quantify how much of an improvement that bit of re-development made, but if you could it would probably be either 'significant' or 'lots'.

Read over your post before hitting submit, I think that is what I'm trying to get at.

[JeMeSouviens]

You mean like The Club Formerly Known As Rangers didn't see it coming? :wink:

Lloyds TSB got their money (from CW via Ticketus).

[Part/Time Supporter]

It's a bit optimistic thinking they can take a player that Liverpool have lost a huge amount of money (in SPL terms) on, and turn him into a decent player.

Hibs did it with Stokes (Sunderland paid Arsenal £2M for him after his loan spell at Falkirk).

[JeMeSouviens]

There's a thread on KB about the AGM and someone is claiming that in HoMFC's projections for the coming season they need £1m from player sales and £1.5m from a fan membership scheme in order to break even. So after raising just over £1m in a share issue where the prospect of the club going bust mid season was very real, they expect to be able to raise another £1.5m from the same fans in the coming season. They're mad.

Edit: here if anyone wants a laugh. http://www.hmfckickback.co.uk/index.php?/topic/128308-agm/

Excellent. They're every bit as ****ed as we all thought. :wink::titanic:

[Treadstone]

They are very optimistic on a lot of things. They're still talking about stadium re-development......

As I said at the start of the week there would be positive stories about the yams in the run up to the AGM. Norwegian , US and FoH takeovers. Do me a favour. Yam bluster the whole lot of it. FoH are the most credible and they would be out of their depth running a menage.

[Sergio sledge]

Harsh there Sergio, the stadium's been upgraded a few times. Remember wind blew down a big Pressley poster, and footballs have knocked holes in the roof of the old stand, causing thousands of pounds worth of improvements... and let's not forget that lightbulb repair.

They've also had volunteers in to pitch fork the pitch, you can't quantify how much of an improvement that bit of re-development made, but if you could it would probably be either 'significant' or 'lots'.

Read over your post before hitting submit, I think that is what I'm trying to get at.

You are right, how silly of me. #allisbarry

[#FromTheCapital]

Taken from a post on brokeback, apparently Fuditovas was questioned about the shares. His reply was that all new shares will have the same rights as existing shares. HOWEVER all shares will be effectively cancelled if the company goes into admin :faf:
Confirmation if it was ever needed (it wasn't) that they have been taken for mugs.

[Mikey]

What are they doing holding their AGM on a Thursday morning? Anyone would think they didn't want a big turnout.

The Membership Scheme doesn't seem to be going down well. "Give us £1.5m with nothing in return, not even empty promises about share certificates arriving".

And they finally seem pretty much resigned to the 15 point penalty.

[matty_f]

You are right, how silly of me. #allisbarry

:top marks

[matty_f]

What are they doing holding their AGM on a Thursday morning? Anyone would think they didn't want a big turnout.

The Membership Scheme doesn't seem to be going down well. "Give us £1.5m with nothing in return, not even empty promises about share certificates arriving".

And they finally seem pretty much resigned to the 15 point penalty.

But they can improve finances with a higher league finish. With a worse squad. And minus 15 points.

Did he have a straight face when he said that?


Should have been a straight jacket.

[Mikey]

Can't wait to see Barry's take on all this.

[alexedwards]

Lloyds TSB got their money (from CW via Ticketus).

That's exactly the point - the debt has to be paid for upfront. We don't expect admin/ubig to sell club for £1 and say give us the £25m later if you happen to have it. Oh dear! you seem to have popped into admin yourselves - silly us!
The yank would have to provide a facility to take on the £25m up front if he is taking on the debt.
Only quoting what is said in the article - have nothing else to base this on.

[Andy74]

Harsh there, Andy. Remember, if it wasn't for someone asking difficult questions that lightbulb might never have been replaced.

Think before you post, that's all I'm saying.:agree:

Sorry.

[Suburban Hibby]

My favourite quote from keekback- finally the penny drops.....

'Hugh Phamism, on 23 May 2013 - 10:28 AM, said:

Projections for coming year.
£1m in player sales
£1.5m from fan membership scheme

FFS!

If this is true and means what I think it means, then despite 15 months without funding from UBIG and the obvious realisation since back then that we desperately need to balance the books, we're still looking at a projected £2.5m shortfall in just one year! Either incompetence on a massive scale, or something fishy is going on and we're being milked for money somehow by the Romanov/UBIG connection.

It's looking like admin brought on by their own incompetence is going to be the only way to get rid of these useless idiots.

[Platinum Scotty]

If you get a chance have a quick look (laugh) on keekback, the FOH thread is hysterical.........there are a couple of folks seeing the light, so the others are turning on each other.....quality!

[Onion]

If you get a chance have a quick look (laugh) on keekback, the FOH thread is hysterical.........there are a couple of folks seeing the light, so the others are turning on each other.....quality!

Pre-cup final nerves :greengrin It's the biggest game of their season

[Andy74]

If you get a chance have a quick look (laugh) on keekback, the FOH thread is hysterical.........there are a couple of folks seeing the light, so the others are turning on each other.....quality!

Have they sussed yet that this Norwegian Consortium are a few ex students who are all connected to this sports consultancy that seems to be run from someone's bedroom and have done nothing except promise to sponsor Edinburgh Capitals without being able to come up with the cash?

It took someone on here a couple of minutes last night. Front page news today but as usual, no even slight digging.

[Benny Brazil]

Have they sussed yet that this Norwegian Consortium are a few ex students who are all connected to this sports consultancy that seems to be run from someone's bedroom and have done nothing except promise to sponsor Edinburgh Capitals without being able to come up with the cash?

It took someone on here a couple of minutes last night. Front page news today but as usual, no even slight digging.

Cleary not Andy:


Posted Today, 11:47
It is time to get rid of these ********s altogether .I hope the story about the Norwegians is true and they put in a bid .******* hell i would even take Massones bid if it got rid of them once and for all

[Sergio sledge]

So an AGM at a critical point in the clubs history, with many questions hanging over their future, is finished in just over 1 hour. You would have thought that they'd have been in there hours asking questions and demanding answers.... #allisbarry

Matty, before you say it, I know I need to think before I post.

[Mikey]

Cleary not Andy:


Posted Today, 11:47
It is time to get rid of these ********s altogether .I hope the story about the Norwegians is true and they put in a bid .******* hell i would even take Massones bid if it got rid of them once and for all

That's the sort of attitude that got them Vlad. Anyone but Robinson was good enough for them back then.

[JimBHibees]

So an AGM at a critical point in the clubs history, with many questions hanging over their future, is finished in just over 1 hour. You would have thought that they'd have been in there hours asking questions and demanding answers.... #allisbarry

Matty, before you say it, I know I need to think before I post.

Agree, quite incredible any normal club and fanbase would have had that running for hours with loads of arguments and claims of incompetence and massive mis-management. But no #allisbarry :rolleyes:

[Andy74]

Agree, quite incredible any normal club and fanbase would have had that running for hours with loads of arguments and claims of incompetence and massive mis-management. But no #allisbarry :rolleyes:

They would need to be informed for that. Quite obvious none of them know where to start.

[SHODAN]

Pre-cup final nerves :greengrin It's the biggest game of their season

As much as that was intended as a joke, it's absolutely right. Our game on Sunday means more to them than any of their games have this season.

[JimBHibees]

As much as that was intended as a joke, it's absolutely right. Our game on Sunday means more to them than any of their games have this season.

Spot on it is a massive game for them.

[MB62]

As much as that was intended as a joke, it's absolutely right. Our game on Sunday means more to them than any of their games have this season.

Maybe it wasn't meant as a joke and more of a serious statement. They are absolutely obsessed by us and they celebrated last year more for the fact We didn't win the cup than themselves actually winning it, that was just an aside for them.

[Fat Penlon]

There's a thread on KB about the AGM and someone is claiming that in HoMFC's projections for the coming season they need £1m from player sales and £1.5m from a fan membership scheme in order to break even. So after raising just over £1m in a share issue where the prospect of the club going bust mid season was very real, they expect to be able to raise another £1.5m from the same fans in the coming season. They're mad.

Edit: here if anyone wants a laugh. http://www.hmfckickback.co.uk/index.php?/topic/128308-agm/

But Barry said they are self sufficient?????????

Pile of steaming dung!!!

[Geo_1875]

Why don't they have a family fun day? there could be a bake sale, face painting and even a bouncy castle, could that not make up the difference?

I'm sure Child Services would take a very keen interest in a "Family Fun Day" at Tynie.

[ScottB]

So there's a £2.5million shortfall for next season?

But I thought they were self sufficient now?!


That is quite a large figure, suspect that confirms the suggestions on here that next seasons ST money is already gone.

[JeMeSouviens]

That's exactly the point - the debt has to be paid for upfront. We don't expect admin/ubig to sell club for £1 and say give us the £25m later if you happen to have it. Oh dear! you seem to have popped into admin yourselves - silly us!
The yank would have to provide a facility to take on the £25m up front if he is taking on the debt.
Only quoting what is said in the article - have nothing else to base this on.

Indeed. Sorry, misunderstood you. :aok:

[Geo_1875]

My favourite quote from keekback- finally the penny drops.....

'Hugh Phamism, on 23 May 2013 - 10:28 AM, said:

Projections for coming year.
£1m in player sales
£1.5m from fan membership scheme

FFS!

If this is true and means what I think it means, then despite 15 months without funding from UBIG and the obvious realisation since back then that we desperately need to balance the books, we're still looking at a projected £2.5m shortfall in just one year! Either incompetence on a massive scale, or something fishy is going on and we're being milked for money somehow by the Romanov/UBIG connection.

It's looking like admin brought on by their own incompetence is going to be the only way to get rid of these useless idiots.

When did they first suspect?

[Aldo]

So there's a £2.5million shortfall for next season?

But I thought they were self sufficient now?!

That is quite a large figure, suspect that confirms the suggestions on here that next seasons ST money is already gone.

And the rest. What do these guys think about when they hand over their money.

All the money from the cake bakes/share issue etc is long gone.... As has the money the fools have parted for the season tickets.

their wage bill alone every month last season was about 800,000 (if not more). They've shipped out most of their big earners but are still needing money for HMRC and interest on their arrangement for the debt. And then the wages and running costs for the coming season.

No one will get paid pre season and anyone who signs for them will have to have their head examined.

Everyday brings more uncertainty and for some its just about sinking in.

[proud_and_green]

FoH thread on keechbag is interesting and, as someone has already said, there are many who are smelling the coffee.

There is a lot of chat on there about what rights a member has and whether they cease to contribute they lose their rights.

What I am not clear about though is whether as a member they would also be liable for any losses. Sounds to me that FoH scheme is a non-runner for many reasons.

[Waxy]

Lifted from the Scotsman............

• A US tycoon is reportedly also interested in Hearts, though he’s only willing to pay a pound for them. (Sun)

That seems a high figure LOLSo this "tycoon" buys them for a pound.Hearts are still owe Lithuania around 40 million.The "tycoon" controls the cash coming in still pays the installments but he keeps the rest instead of it going to hearts?
Good deal.
I think they should run with that.
What have they to lose?

[Mikey]

And the rest. What do these guys think about when they hand over their money.

All the money from the cake bakes/share issue etc is long gone.... As has the money the fools have parted for the season tickets.

their wage bill alone every month last season was about 800,000 (if not more). They've shipped out most of their big earners but are still needing money for HMRC and interest on their arrangement for the debt. And then the wages and running costs for the coming season.

No one will get paid pre season and anyone who signs for them will have to have their head examined.

Everyday brings more uncertainty and for some its just about sinking in.

I've always said that when the really bad stuff starts happening to the club it'll be a big surprise to most of them. I'm sure they think that guys like Caversham, CWG and PTS are just making it up on here.

[CentreLine]

Charlie Brown says

"if the SPL give us a 15 point penalty for UBIGs insolvency then we'd be as well going straight ino administration ourselves and avoid the danger of any potential double whammy punishment for 2 separate insolvency events.

It would of course risk getting a CVA agreed but it would flush out the interest parties plus we could get rid of the debt & tax burden if new buyers offered UBIG/UKIO & HMRC a pennies in the pound deal. HMRC would vote against any CVA as a matter of policy however in terms of creditor vote they wouldnt have anymore than 10% of the total votes so it would be solely decided on how the Lithuanian debt holders voted whether to agree or reject any proposed deal?

it would also allow an administrator to strip the club down to bare bones and any surplus players or employees on biggish wages still under contract could or would be made redundant.

We would of course have a signing ban for at least the period of administration plus we'd face a multiple season ban from UEFA competitions."

Flushing out all of those interested parties will provide lots of choices for new ownership and of course it is only right to avoid paying the club's debt. But for the life of me I can't imagine how they will cope with being punished with a ban from Europe.

The penny has to drop one of these days

[Kaiser1962]

Has to be bollocks, they're self-sufficient now (ignore the loss, and the share issue - which was definitely for youth development and that, not a tax bill that they were hit with for the same amount, by the way - and the cake bakes, the face painting, the plea to get fans in to fill the stadium, the comments that the budgets were based on a top 6 finish etc). They are definitely self-sufficient. Yes, sir.

Only a matter of time before they kindly walk away from millions of pounds of debt to give the club to someone for a song.


It has been thus for the past few years. Administration is their planned escape route.

[Geo_1875]

FoH thread on keechbag is interesting and, as someone has already said, there are many who are smelling the coffee.

There is a lot of chat on there about what rights a member has and whether they cease to contribute they lose their rights.

What I am not clear about though is whether as a member they would also be liable for any losses. Sounds to me that FoH scheme is a non-runner for many reasons.

Depends how they are set-up. If they are run along private club lines all members are liable for any debts if the **** hits the fan, even those incurred prior to joining. But that set-up would mean being run by a committee. Doesn't that just fill your head with visions of blazers, cardigans and Rovers.

[Waxy]

Anyone know how much Romanov paid for them in the first place?
He was quick to swap the debt to his own bank.
Shrewd business

[Keith_M]

How much does everybody think they've taken in so far in ST sales?


If the 800K monthly salary payment is correct, I can't see this money paying for them through the whole summer break.


In fact, I'm presuming they've already lost a chunk of it on May's salary payments.

[CropleyWasGod]

Charlie Brown says

"if the SPL give us a 15 point penalty for UBIGs insolvency then we'd be as well going straight ino administration ourselves and avoid the danger of any potential double whammy punishment for 2 separate insolvency events.

It would of course risk getting a CVA agreed but it would flush out the interest parties plus we could get rid of the debt & tax burden if new buyers offered UBIG/UKIO & HMRC a pennies in the pound deal. HMRC would vote against any CVA as a matter of policy however in terms of creditor vote they wouldnt have anymore than 10% of the total votes so it would be solely decided on how the Lithuanian debt holders voted whether to agree or reject any proposed deal?

it would also allow an administrator to strip the club down to bare bones and any surplus players or employees on biggish wages still under contract could or would be made redundant.

We would of course have a signing ban for at least the period of administration plus we'd face a multiple season ban from UEFA competitions."

Flushing out all of those interested parties will provide lots of choices for new ownership and of course it is only right to avoid paying the club's debt. But for the life of me I can't imagine how they will cope with being punished with a ban from Europe.

The penny has to drop one of these days

.... and, when it drops, they will realise that a CVA just isn't going to happen.:rolleyes:

[blackpoolhibs]

News from todays AGM really makes you wonder just what the SPL were thinking on Monday? This club is insolvent, and has been for a very long time. :rolleyes:

[Andy74]

Some chat that SF claimed that UBIG transferred 29 per cent of the shareholding to UKIO. Has this been noted before?

[steviehibsleith]

Dont think it was £800,000 - Everything i read stated £600,000 monthly wage bill for the players. Perhaps the additional 200k is staff ?
Either way its huge and with a mountain of other bills as seen on here so still up the proverbial creek.

[CropleyWasGod]

News from todays AGM really makes you wonder just what the SPL were thinking on Monday? This club is insolvent, and has been for a very long time. :rolleyes:

It's not the SPL's job, though, to assess whether a club is insolvent.

[blackpoolhibs]

It's not the SPL's job, though, to assess whether a club is insolvent.

I know, but i'm still pissed my bet never came up. :greengrin

[greenginger]

Reading the kickback stuff about the Liths voting for a CVA , has none of them sussed that secured creditors don't get a vote. :rolleyes:

[Gus Fring]

Some chat that SF claimed that UBIG transferred 29 per cent of the shareholding to UKIO. Has this been noted before?

Yep that's been known for a few weeks at least.

[Part/Time Supporter]

Some chat that SF claimed that UBIG transferred 29 per cent of the shareholding to UKIO. Has this been noted before?

UBIG pledged ~29% of Hearts share capital as security against the £15M of debt that was shifted to Ukio.

[Part/Time Supporter]

It's not the SPL's job, though, to assess whether a club is insolvent.

Just as well, because Hibs were *technically* insolvent during the early 2000s (before the cark park sale and the "golden generation" coming through).

[ScottB]

It'd be humane if they were put out of their misery.

But not half as much fun as dragging it out will be :greengrin

[Mac]

Anyone know how much Romanov paid for them in the first place?
He was quick to swap the debt to his own bank.
Shrewd business

£20m with a business plan to bring that down to an affordable level in 1 year, that level was £10m but instead it doubled to £40m and they still didnt twig this boy was full of the brown stuff!!

[Aldo]

I've always said that when the really bad stuff starts happening to the club it'll be a big surprise to most of them. I'm sure they think that guys like Caversham, CWG and PTS are just making it up on here.

Mikey its there for all to see. The questions that you guys posted in here re the AGM are question just about 99.9% of any share holders in a company would ask.

It has taken a while but once one domino falls the rest won't be hard to find.

Lets face it allisbarry

[Gus Fring]

Barry has retweeted this from a fellow hibee, obviously in an attempt to get the Yams to tweet him abuse. The truth hurts Barry?

Jamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.

[Sanger]

Yep that's been known for a few weeks at least.


Since UKio Bankas have a claim on 79% of HMFC shares for the £22m loan to UBIG that Romanov used to clear the overdraft with Bank of Scotland when he took over and then converted to shares that means UkIO Bankas hold 108% if the shares!

[ScottB]

I see Barry has retweeted this, obvioulsy in an attempt to get the Yams to tweet him.

Jamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)33m (https://twitter.com/TheJamieRyan/status/337549696803422209)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.

Ultimately, he and his employers efforts to avoid upsetting / angering the faithful will inevitably blow up in their faces when all this comes crashing down.

Their printing of outright lies through this entire saga is probably a big part in why the Hearts support at large has managed to get this far without any serious questioning of the party line.

[robinp]

Reading the kickback stuff about the Liths voting for a CVA , has none of them sussed that secured creditors don't get a vote. :rolleyes:

I was just going to mention this.

[hibeesdude]

Now excuse my ignorance but weren't the new shares to be ratified at this agm and then sent out.... Did this happen??

[Treadstone]

Reading the kickback stuff about the Liths voting for a CVA , has none of them sussed that secured creditors don't get a vote. :rolleyes:

They prefer to slag this thread rather than read it.

#allisbarry

[Keith_M]

Now excuse my ignorance but weren't the new shares to be ratified at this agm and then sent out.... Did this happen??


Did anyone even dare to ask about the shares?

[Treadstone]

Did anyone even dare to ask about the shares?

Some guy on brokeback says he has recorded the AGM from the point where questions were opened to the floor. Needed help to upload somewhere, this was 2 hours ago. I have my doubts as username is 'LoveNgoo'. :faf:

[Cabbage East]

I hope he sticks it on youtube, would make quality viewing.

[Gus Fring]

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@TheJamieRyan (https://twitter.com/TheJamieRyan) That doesn't mean they'll just do as he wants though....

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@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) As for how they fund themselves, it's up to Hearts. Can't expect fans to keep generating £1m after £1m. 2/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564868838305792)



https://si0.twimg.com/profile_images/3698265644/1b6cdd461d9ac64382efd6e22eded269_normal.jpegBarry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)8m (https://twitter.com/BarryAnderson_8/status/337564402695954432)
@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) Lied? Utter horse****. Hearts are self-sufficient in that they're no longer funded by UBIG. That's all. 1/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564402695954432)



https://si0.twimg.com/profile_images/3645306661/7ccc498333f8f1c5d70da5e54951899e_normal.jpegJamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)1h (https://twitter.com/TheJamieRyan/status/337549696803422209)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.
Retweeted by Barry Anderson (https://twitter.com/BarryAnderson_8)
Expand (https://twitter.com/TheJamieRyan/status/337549696803422209)







He's replying to the guy now, first time in weeks it seems and he's showing he hasn't got a clue what he's talking about! What a fud this guy is! How has he got a job!?

[The Falcon]

Reading the kickback stuff about the Liths voting for a CVA , has none of them sussed that secured creditors don't get a vote. :rolleyes:

There was a woman trying very clumsily to point this out on a thread I was reading but was basically accused of being a "hobo" and shouted down.

[Spike Mandela]

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@TheJamieRyan (https://twitter.com/TheJamieRyan) That doesn't mean they'll just do as he wants though....

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@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) As for how they fund themselves, it's up to Hearts. Can't expect fans to keep generating £1m after £1m. 2/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564868838305792)



https://si0.twimg.com/profile_images/3698265644/1b6cdd461d9ac64382efd6e22eded269_normal.jpegBarry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)8m (https://twitter.com/BarryAnderson_8/status/337564402695954432)
@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) Lied? Utter horse****. Hearts are self-sufficient in that they're no longer funded by UBIG. That's all. 1/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564402695954432)



https://si0.twimg.com/profile_images/3645306661/7ccc498333f8f1c5d70da5e54951899e_normal.jpegJamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)1h (https://twitter.com/TheJamieRyan/status/337549696803422209)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.
Retweeted by Barry Anderson (https://twitter.com/BarryAnderson_8)
Expand (https://twitter.com/TheJamieRyan/status/337549696803422209)







He's replying to the guy now, first time in weeks it seems and he's showing he hasn't got a clue what he's talking about! What a fud this guy is! How has he got a job!?

http://en.wikipedia.org/wiki/Self-sufficiency

[Treadstone]

http://sport.stv.tv/football/clubs/hearts/226557-scandinavian-consortium-close-to-negotiating-a-price-to-buy-hearts/

A consortium of Scandinavian Hearts fans is close to beginning negotiations to buy the club, STV has learned.
The group of four Norwegians and two Swedes has been working to put together a bid to buy out Vladimir Romanov since the summer of last year.
The six are all Edinburgh-educated and consider themselves supporters of the Tynecastle side.
With the help of a team of consultants working in Kaunas, where Hearts majority shareholding company UBIG is based, STV has learned that the group now believes it is in contact with the right people to negotiate a price for the Tynecastle club.
It is further understood that the consortium is confident of agreeing a price to buy Hearts free of their £24m debt, within the budget they have put together for the move.
A source close to the talks said: “They have a team in Kaunas. The team is based there although not exclusively working on Hearts.
“They now know probably who will be able to decide on a sale. There are a few details to clarify.
“In principle the club would be taken on without any of the debt – that’s going to take some form of cash payment to achieve.
“The group is confident it can make an offer that achieves that, but exactly how much is hard to say.
“There is a highest price they are willing to pay. Ideally they would like to be in charge at Hearts before next season begins."
The group, whose intentions were announced in a statement by consultants Crest Sports Group (http://w162152-pantero.php5.dittdomene.no/news/) on Wednesday, want to use a governance model that includes fans as members.
In a system that echoes the ownership of football clubs in Scandinavia, the consortium would bring fans on board through a membership scheme.
With the Foundation of Hearts currently working to put together a bid for the 139-year-old club, the Scandinavian group said it has spoken informally with the Foundation and is open to working more closely if a bid is accepted.
The consortium insider added: “They are definitely open to working with the Foundation of Hearts.
“They feel they have to involve some sort of fan ownership and representation in the running of the club.”

[EdinMike]

Take on the club and not the debt ?! Cuckoo.. :crazy:

[Spike Mandela]

http://sport.stv.tv/football/clubs/hearts/226557-scandinavian-consortium-close-to-negotiating-a-price-to-buy-hearts/

A consortium of Scandinavian Hearts fans is close to beginning negotiations to buy the club, STV has learned.
The group of four Norwegians and two Swedes has been working to put together a bid to buy out Vladimir Romanov since the summer of last year.
The six are all Edinburgh-educated and consider themselves supporters of the Tynecastle side.
With the help of a team of consultants working in Kaunas, where Hearts majority shareholding company UBIG is based, STV has learned that the group now believes it is in contact with the right people to negotiate a price for the Tynecastle club.
It is further understood that the consortium is confident of agreeing a price to buy Hearts free of their £24m debt, within the budget they have put together for the move.
A source close to the talks said: “They have a team in Kaunas. The team is based there although not exclusively working on Hearts.
“They now know probably who will be able to decide on a sale. There are a few details to clarify.
“In principle the club would be taken on without any of the debt – that’s going to take some form of cash payment to achieve.
“The group is confident it can make an offer that achieves that, but exactly how much is hard to say.
“There is a highest price they are willing to pay. Ideally they would like to be in charge at Hearts before next season begins."
The group, whose intentions were announced in a statement by consultants Crest Sports Group (http://w162152-pantero.php5.dittdomene.no/news/) on Wednesday, want to use a governance model that includes fans as members.
In a system that echoes the ownership of football clubs in Scandinavia, the consortium would bring fans on board through a membership scheme.
With the Foundation of Hearts currently working to put together a bid for the 139-year-old club, the Scandinavian group said it has spoken informally with the Foundation and is open to working more closely if a bid is accepted.
The consortium insider added: “They are definitely open to working with the Foundation of Hearts.
“They feel they have to involve some sort of fan ownership and representation in the running of the club.”

If the ukio/ubig administrators are prepared to write off the large amount of debt(surely not their job:confused:) there will be a queue of people willing to buy Hearts. However if they don't and expect it paid then there won't be. Still expect a Hearts insolvency event before anyone does any deals.

Surely this is just a case of someone chancing their arm, nothing to lose.

[brog]

Tweets







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@TheJamieRyan (https://twitter.com/TheJamieRyan) That doesn't mean they'll just do as he wants though....

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@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) As for how they fund themselves, it's up to Hearts. Can't expect fans to keep generating £1m after £1m. 2/2

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@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) Lied? Utter horse****. Hearts are self-sufficient in that they're no longer funded by UBIG. That's all. 1/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564402695954432)



https://si0.twimg.com/profile_images/3645306661/7ccc498333f8f1c5d70da5e54951899e_normal.jpegJamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)1h (https://twitter.com/TheJamieRyan/status/337549696803422209)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.
Retweeted by Barry Anderson (https://twitter.com/BarryAnderson_8)
Expand (https://twitter.com/TheJamieRyan/status/337549696803422209)







He's replying to the guy now, first time in weeks it seems and he's showing he hasn't got a clue what he's talking about! What a fud this guy is! How has he got a job!?

Seems almost impossible but Allisbarry is getting more stupid by the moment. Hopefully Jamie will ask him if he understands the definition of self-sufficient or whether he thinks a £15mm loan is funding!

[Geo_1875]

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@TheJamieRyan (https://twitter.com/TheJamieRyan) That doesn't mean they'll just do as he wants though....

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https://si0.twimg.com/profile_images/3698265644/1b6cdd461d9ac64382efd6e22eded269_normal.jpegBarry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)7m (https://twitter.com/BarryAnderson_8/status/337564868838305792)
@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) As for how they fund themselves, it's up to Hearts. Can't expect fans to keep generating £1m after £1m. 2/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564868838305792)



https://si0.twimg.com/profile_images/3698265644/1b6cdd461d9ac64382efd6e22eded269_normal.jpegBarry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)8m (https://twitter.com/BarryAnderson_8/status/337564402695954432)
@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) Lied? Utter horse****. Hearts are self-sufficient in that they're no longer funded by UBIG. That's all. 1/2

View conversation (https://twitter.com/BarryAnderson_8/status/337564402695954432)



https://si0.twimg.com/profile_images/3645306661/7ccc498333f8f1c5d70da5e54951899e_normal.jpegJamie Ryan ‏@TheJamieRyan (https://twitter.com/TheJamieRyan)1h (https://twitter.com/TheJamieRyan/status/337549696803422209)
@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) I see your lies about Hearts being "self-sufficient" have been uncovered Barry. Club themselves admitted they are not.
Retweeted by Barry Anderson (https://twitter.com/BarryAnderson_8)
Expand (https://twitter.com/TheJamieRyan/status/337549696803422209)







He's replying to the guy now, first time in weeks it seems and he's showing he hasn't got a clue what he's talking about! What a fud this guy is! How has he got a job!?

Do you think Banderson used his own photo or typed ugly guy into Google images?

[poolman]

Seems almost impossible but Allisbarry is getting more stupid by the moment. Hopefully Jamie will ask him if he understands the definition of self-sufficient or whether he thinks a £15mm loan is funding!


Yea, you would think that's the case

But he's making a bloody good shot of it :agree:

[Treadstone]

Seems almost impossible but Allisbarry is getting more stupid by the moment. Hopefully Jamie will ask him if he understands the definition of self-sufficient or whether he thinks a £15mm loan is funding!

Banderson knows he has made a tit of himself and tried to end it. Especially loved his :

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8)35m (https://twitter.com/BarryAnderson_8/status/337564402695954432)
@TheJamieRyan (https://twitter.com/TheJamieRyan) @emcpostie (https://twitter.com/emcpostie) Lied? Utter horse****. Hearts are self-sufficient in that they're no longer funded by UBIG. That's all. 1/2

Thats all. 1/2 :faf:

[Waxy]

Apparently Roman romanov is to be reappointed a director of Hearts.
Even though the fans don't want him.

[CropleyWasGod]

Apparently Roman romanov is to be reappointed a director of Hearts.
Even though the fans don't want him.

That's cause the 79% voted for him.

It would be the same at ER. If the fans didn't want Rod, and STF did, it would be no contest.

[Gus Fring]

Apparently Roman romanov is to be reappointed a director of Hearts.
Even though the fans don't want him.

Voted down unaminously at their AGM, apparently.

[Keith_M]

Apparently Roman romanov is to be reappointed a director of Hearts.
Even though the fans don't want him.


Just read that. Apparently, the move was overwhelmingly voted against from the floor (ordinary shareholders) but they're going to ignore that and appoint him anyway.

So, who's still pulling the strings at the AllisbarryDome? :hmmm: